New Issue: HSBC prices $22.66 million dual directional trigger PLUS linked to S&P 500

By Susanna Moon

Chicago, Nov. 5 - HSBC USA Inc. priced $22.66 million 0% dual directional trigger Performance Leveraged Upside Securities due May 6, 2019 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

If the index finishes above the initial level, the payout at maturity will be par of $10 plus 114% of any gain.

If the index falls by up to the 65% trigger level, the payout will be par plus the absolute value of the return, up to a maximum return of 35%.

Otherwise, investors will be fully exposed to any losses.

HSBC Securities (USA) Inc. is the agent. Morgan Stanley Wealth Management is the dealer.

Issuer:	HSBC USA Inc.
Issue:	Dual directional trigger Performance Leveraged Upside Securities
Underlying index:	S&P 500
Amount:	$22,656,790
Maturity:	May 6, 2019
Coupon:	0%
Price:	Par of $10.00
Payout at maturity:	If index gains, par plus 114% of return; if index falls by up to 35%, plus absolute value of the return, capped at 35%; otherwise, full exposure to any losses
Initial level:	1,756.54
Trigger level:	1,141.75, 65% of initial level
Pricing date:	Oct. 31
Settlement date:	Nov. 5
Agent:	HSBC Securities (USA) Inc. with Morgan Stanley Wealth Management as dealer
Fees:	3.5%
Cusip:	40434B206

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